During the course of your marriage, you and your husband worked very hard to build a solid financial foundation. But, now that you are considering divorce, you will have to split the assets you have spent years accumulating and growing. For instance, you have to decide how to handle your Honolulu home. You can keep the house, take a fair amount of assets in exchange for letting your soon-to-be ex keep it or sell it and split the proceeds.
For many high-income couples headed toward divorce, predicting the likely outcome of the asset division process is important. After all, how can you plan your future if you don't have any idea how your financial situation will turn out after the divorce? The courts consider many factors, including child custody and support, spousal support and both spouses' incomes when dividing assets. They attempt to secure a fair and equitable distribution of your assets.
For many couples going through a divorce, the division of assets can prove to be the most difficult aspect of the process, other than arranging a parenting plan. Especially in situations where there is a dramatic discrepancy between the income of spouses, there may be stark disagreements about what is a fair way to divide assets, including the equity in your home and even your retirement account.
Divorce is a lot like going to the dentist. No one really wants to do it and it's generally a very unpleasant experience, but when things get bad enough, it is often the only solution.
If you finally decide to push forward with the divorce process, you'll want to learn more about mediation and whether or not it's the right choice for you and your soon to be ex-spouse.
In many divorces, the most contentious issues relate to money and children. It is not uncommon for one spouse to attempt to hide significant assets from the other. The motivation is almost always keeping them out of the courts when you divorce. If your divorce is contentious and your spouse is angry, you should consider the possibility that there could be assets that you don't currently know about.
If you're considering getting a divorce in Hawaii, you may find yourself worried about the potential outcome. Maybe your spouse makes way more money or he or she has stayed home with the kids for years. Will that impact the outcome of you child custody case? If you have reason to believe your spouse will not work with you to find an amicable solution to custody, the courts will make the decision for you.
Getting divorced is a difficult process. If you weren't expecting it, getting served can be a shock. You could come home and realize that your spouse has left, taking your children. Other times, you'll be the one who's expected to find somewhere else to live. Suddenly, you're only seeing your children on the weekends and even worse, you have to pay a chuck of each paycheck toward child support. It often doesn't feel fair.
Getting divorced can be a messy and frustrating process. It can be incredibly difficult to separate your life and finances from your spouse after having entangled them so completely during the marriage. After all, if you made more money, it's likely that your spouse was regularly using your income for household purchases and other necessities.
Getting divorced is stressful and unpredictable. You and your spouse may not agree on terms for your divorce. If you can't compromise and figure out how to fairly separate from one another, the courts can help. Unless you have a prenuptial agreement or feel able to set and follow specific terms for asset division, the judge that presides over your divorce will determine how your assets get divided.